#99 Where did you get your rent data from, is your neighbour paying this new higher rent or is the landlord asking for this? This information is key as asking rent and actual rent can differ significantly. I’ve been renting in the area for 5 years now and have seen rents decline after peaking 2 years ago. Our lease clearly states that rent will go up at levied rates however every year I write the cheques for the same amount as our landlord knows good tenants are hard to find. Every year before we write the new cheques I parse the listings and compile a list to provide should the landlord ask for a higher rent (my counter will actually be to ask for lower). This activity will be commencing soon (next month) so I’ll report back what I find… Read more »

New Listings 367
Price Changes 127
Sold Listings 162

TI:15549

http://www.paulboenisch.com

Prostitues in the OV. Haven’t seen or heard em. Yet 🙂 The new social housing is becoming a big problem. I don’t know how much more they plan to add to this area but I’d say it’s at its max.

Canada’s housing market among most overvalued in the world: Economist By Brenda Bouw | Balance Sheet: https://ca.finance.yahoo.com/blogs/balance-sheet/canadas-housing-market-among-most-overvalued-in-the-183022085.html “Canada’s housing market is among the most overvalued in the world and “bears an unhappy resemblance” to what the U.S. housing picture looked like before the financial crisis, according to the latest data compiled by The Economist magazine. Measured using price-to-rent and price-to-income ratios, the Economist says housing markets are at least 25 per cent overvalued in nine of the 23 economies it tracked. When comparing the relationship between the costs of buying and renting, it cited Canada, Hong Kong and New Zealand as “the most glaring examples” of overheated markets. “The overshoot in these economies and others bears an unhappy resemblance to the situation that prevailed in America at the height of its boom, just before the financial crisis,” the magazine states.… Read more »

Sorry, I meant #100

#99

That stats is for Canada where the price for Vancouver is 4xs the national average. Had dinner with a chinese westside accountant and he said most of his clients are leveraged up to their yen-yan and if interest goes up or prices drop, these guys are screwed big time. Look out below.

Opsal could have gone up in price. The other buildings along W 1st were asking and getting just under 100K more than pre-sale for a 2-bed, 700K range. But once all the taxes, fees for selling are paid , etc, investors are only left with 20-30K profit. But a nice cushion for anyone who is intending to live there and fearing a decline. As for the inversion of crazy Vancouver real estate fundamentals…. I can frustratingly tell you that not only as they add more units to the neighbourhood do the prices go up but rents go up to?! Only in Vancouver aye? Our example: we moved in here when almost no one else was here. Paid 2400 for 2-bed 2-patios partial view of downtown (Tiny view really and only from one window). We negotiated 2 parking and storage into… Read more »